'Sale' of aleo solar to be completed next week

The German module manufacturer formerly known as aleo solar announced on Friday that it expects to complete its sale to Hamburg-based Asian joint venture SCP Solar GmbH by May 16.

Former Bosch subsidiary aleo – which is paying its suitor €10 million (US$13.8 million) and receiving €1 euro in return for the ‘sale‘ – was renamed AS Abwicklung und Solar-Service AG last week as the former aleo business was dissolved.

The business, including its production facility in Prenzlau and the aleo brand, is being sold to the SCP Solar consortium established in Germany by Taiwanese cell manufacturer Sunrise Global Solar Energy, its U.K.-Hong Kong parent group Pan Asia Solar and Japanese company CHOSHU Industry.